SunSirs: The Price of Adipic Acid in East China Remained Stable This Week (May 13-17)

https://www.chemnet.com   May 21,2024 SunSirs

　　As of May 17th, the price of adipic acid in East China had stabilized this week. The previous upward trend had been suppressed, and the market generally had operating space within 50 RMB/ton. According to the Commodity Market Analysis System of SunSirs, the price of adipic acid had fluctuated by 0 this week. The main reason was the weak performance of market supply and demand, resulting in a double weak situation of supply and demand.

　　Analysis review

　　From a supply side perspective, the operating rate of enterprises remained low, and there were still more equipment maintenance. However, due to poor sales, the market had not shown a shortage of supply. Distributors tended to follow the market and prioritize regular shipments.

　　On the cost side, the price of raw material pure benzene had rebounded since May, providing some support for adipic acid. However, this week, pure benzene enterprises had not seen significant price increases or decreases, and the cost advantage of adipic acid was gradually being exhausted. As of May 17th, the pressure on supply and demand was average, and manufacturers were still in the process of reducing inventory. Downstream post holiday market replenishment had improved demand compared to the previous period, and supply and demand were basically stable. On May 17th, the mainstream market prices were: 9,600-9,700 RMB/ton for Shandong sources and 9,700-9,800 RMB/ton for Jiangsu sources.

　　Market outlook

　　SunSirs’predicts that in the short term, the supply and demand of adipic acid will be basically balanced, and some devices will enter the maintenance period in late May. The expected decrease in enterprise production will make adipic acid more rigid, and it is expected that there may be upward space for adipic acid in late May.

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